The Reserve Bank of India has confounded market expectations with its accommodative policy even as inflation breached its 6% limit for two months
Here are the best of BS Opinion pieces of the day
Shorter maturities have been selling off faster than their longer-dated peers this year as investors ratchet up expectations the Fed will hike rates to combat inflation
We may need to be prepared for greater volatility in asset markets and no Fed riding to the rescue to save markets
The broader dollar index took a breather on Friday but was on track for a small weekly gain
Weekly initial jobless claims fell to a seasonally adjusted 187,000 last week, the lowest level since September 1969 and below the 212,000 forecast
Spot gold was flat at $1,943.33 per ounce by 0740 GMT. U.S. gold futures were up 0.3% at $1,942.40
Equity markets were volatile, struggling to make gains in the Asian session, after more hawkish comments from the U.S. Federal Reserve made investors more cautious
On its part, the US has been battling a spike in inflation that hit 7.9 per cent in February - a four-decade high. The CPI has not been the highest since January 1982, when it hit 8.4 per cent
Foreign portfolio investors exited India in droves and have sold stocks since October 2021 amid fears of an earlier and faster-than-expected rate hike by the US Federal Reserve (US Fed)
Earlier in January, Goldman Sachs had raised their 12-month gold price forecast to $2150 an ounce on the view that an impending US growth slowdown would lead to increased concerns of a US recession
Benchmark U.S. 10-year Treasury yields jumped to fresh highs since May 2019
RIL, IT stocks lead rally; Sensex set to reclaim 58K mark
CLOSING BELL: Tech M, Tata Motors, BPCL, ITC, JSW Steel, PowerGrid, Bajaj Auto, Infosys, TCS, Bajaj Finserv, Bharti Airtel, Wipro and IndusInd Bank were the other gainers
Goldman Sachs expects the US Federal Reserve to raise interest rates by 50 basis points each at its May and June meetings, following hawkish remarks by the central bank's chair Jerome Powell.
The Fed last week raised its benchmark interest rate by a quarter percentage point to a range of 0.25% to 0.5% from near zero
The dollar strengthened against a basket of major currencies on Monday, in the wake of comments from US Federal Reserve Chair Jerome Powell
Fed policymakers last week raised interest rates for the first time in three years and signaled ongoing rate hikes ahead
The dollar index, which measures the greenback against six peers, dipped 0.1% to 98.222
Spot gold rose 0.3% to $1,927.22 per ounce by 0528 GMT. U.S. gold futures were down 0.1% to $1,927.30